The European Union has taken special interest in promoting development cooperation as an instrument along with framework and association agreements. Today, the countries making up the strategic partnership between the European Union and the current Community of Latin American and Caribbean States (CELAC) are in a far different position from the one envisaged in the early 1990s. Nearly 15 years on from the launch of the strategic partnership between the European Union and the current Community of Latin American and Caribberan States (CELAC, formerly the Rio Group), it is important to look at the future prospects for cooperation. During this change, the strategic partnership between the European Union and CELAC will continue, so European Union cooperation must also change to meet this challenge.